Nexa will invest US $1.17 billion in Brazil and Peru and several copper-zinc mines will be put into production

SMM, 17 Sept: Brazilian mining company Nexa Resources plans to invest about US $1.17 billion in copper and zinc projects in Peru and Brazil over the next five years, Ricardo Porta (Ricardo Porta), general manager of Brazilian mining company Ricardo Porta said Friday. Nexa Resources is one of the top five zinc mine producers in the world.

The closest proposed mine to development is Aripuana, a US $354 million zinc mine in Brazil that is scheduled to go into production in 2020. "We hope to finally approve the project [by the government] in the coming months," Porta said on the sidelines of a mining conference in Lima.

The Shalipayco zinc project and the Magistral and Pukaqaqa copper projects in Peru will be closely followed. Shalipayco is likely to go into production in 2021, Magistral in 2022 and Pukaqaqa in 2023.

"between Brazil and Peru, we have seven projects," Porta said. " He added that the company's top priority was to increase its reserves, which are planned to grow by about 5 per cent a year.

Nexa operates five mines in Brazil, as well as at the Milper (Milpo), Atacacha (Atacocha) and Elbovier (El Porvenir) mines, as well as at the (Cajamarquilla) Zinc Refinery in Carjamakilla, Peru.

Nexa Resources expects to produce 600000 tons of zinc this year.